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European spot acetone prices see further increases

03 January 2014 14:33
Source:ICIS News

LONDON (ICIS)--European acetone spot prices continue to rise, with demand expected to restart from next week on the back of buyers returning to the market after the holiday season,sources said on Friday.

Spot prices are now assessed at €850-900/tonne ($1164-1233/tonne) FD (free delivered) NWE (northwest Europe). This represents an increase of €20/tonne at the top of the range compared to late-December prices.

“The cheaper prices seen in the run-up to Christmas are now gone”, said one distributor.

Market participants talked of a marked price difference between immediate delivery and delivery at the end of the month.

“There is a big spread between delivery early and late January and that spread is widening”, said one major producer.

A trade was heard of at €880/tonnes FD between a major producer and a distributor. However, a number of sources talked of offers of up to €900/tonne for late January delivery.

The rise is said to be due to 3 factors: an expectation that demand will return to the market next week, rises in key feedstock propylene and an attractive export price.

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